FX Hunter Wealth is a new signal service that provides trade alerts via telegram. Priced at $125 per month, it’s one of the most expensive we’ve reviewed. The developer, Dave, believes the price point is correct, because of his knowledge of the markets. He claims to have won, and performed very well in a collection of different trading competitions. Today we will be providing a full analysis, and letting you know if Dave’s service is meeting the expectations of the community.
The signal provider goes by DaveFX, a sole proprieter with 7 years of experience trading Forex. We do not know where he is located, or if he has a team that helps him with the service but he does have a fair amount of knowledge. In fact, he’s finished in the top 10 in multiple competitions:
- 1st place – Forex Factory competition
- 9th place – MQL5 competition
- Top authors on Tradingview
There are no links to these results, but based on what we see, we do believe that these competition results are real, which is a good sign. To get in touch with support, traders can fill out a contact form located on the bottom of the sales page.
FX Hunter Wealth Review
The FX Hunter Wealth website consists of a signals section, a managed account area and some details about the service. Traders are expected to join the telegram group where they will receive free education, analysis and daily updates. In the group, traders will also be provided “complete trade management steps” which are updated while the trades are active. Dave is clear that one of the main benefits of his service is that each trade comes with in depth explanations so that trader’s learn while they trade.
The channel also provides a daily list of active trades so the community can see which trades are running or pending. We have found many services fail to provide this type of transparency, and it’s certainly something we expect from the best Forex signal providers in the market.
There is no specific trading strategy offered up on the FX Hunter Wealth sales page. Yet, this isn’t a bad thing in this case, because Dave provides access to his YouTube and TradingView accounts, In both of these platforms, Dave shows off his trading knowledge, and ability to predict market movements.
So, while we would like some sort of explanation on the website, it isn’t really necessary. It’s more than clear that this signal provider has the market knowledge required in order to run a signal service. This is more than we can say about most of the signal services we review, as you can see with DepyFX, K2 Trades and Alpha Pips.
- Type: Signals
- Established: 2018
- Price: $125/month
- Strategy: Multiple
- Trading Time: Monday – Thursday, 9-17 GMT
- Signal Frequency: Undisclosed
Up until this point in our review of the FX Hunter Wealth service, the only negative is the exorbitant cost. The signal services costs $75 per month for the first two months, then it costs $125 per month. As far as signal services go, this is one of the most expensive, as most signal services are in the $30-$50 per month range. This doesn’t mean that it’s a bad service by any means, but if you are only trading a small account, it’s not going to be worth it for you.
We haven’t seen much client feedback, but in the small sample size we’ve gathered it’s mostly positive. Feel free to leave your experiences at the bottom of this review to let us know how you’ve been making out.
The FX Hunter Wealth service provides a single Myfxbook account, running on a live account with IC Markets. This account is using a 1:500 leverage, on the MT4 platform.
The account is showing a 17.24% gain, with a 9.57% drawdown since it launched on February 3rd, 2020. During this time, the service placed 901 trades with the average trade length clocking in at 24 hours. The risk reward ratio is 1:1.6, with the average win at 117 pips and the average loss at -167 pips.
In terms of monthly success, the service has had 3 negative months and 3 positive months. So, don’t get discouraged by a single negative month, as this is a long term solution. Though, we can really say that about any service.
If you aren’t willing to take losses, you shouldn’t be trading Forex.
The FX Hunter Wealth telegram signal service is an impressive option at first glance. The price might be a bit high, but it’s clear that Dave FX knows what he’s doing, and has many videos proving it. That being said, we still would like to see more impressive Myfxbook numbers before shelling out $125 per month.
If you have anything else you would like to add, please leave your comments below the article now.